SANICHI-WC
Adjustment
| SANICHI TECHNOLOGY BERHAD |
| EX-date | 30 Aug 2017 |
| Entitlement date | 05 Sep 2017 |
| Entitlement time | 05:00 PM |
| Entitlement subject | Adjustment |
| Entitlement description | ADJUSTMENTS TO THE NUMBER AND EXERCISE PRICE OF OUTSTANDING WARRANTS 2014/2019 ("WARRANTS C") AS SPECIFIED IN THE DEED POLL DATED 14 AUGUST 2014 ("DEED POLL C"), AS A CONSEQUENCE OF THE CONSOLIDATION OF EVERY 3 ORDINARY SHARES IN SANICHI TECHNOLOGY BERHAD ("SANICHI" OR THE "COMPANY") ("SANICHI SHARES" OR "SHARES") INTO 1 SHARE ("CONSOLIDATED SHARES") AT 5.00 P.M. ON 5 SEPTEMBER 2017 ("BOOKS CLOSURE DATE") ("SHARE CONSOLIDATION") |
| Period of interest payment | to |
| Financial Year End | 31 Dec 2017 |
| Share transfer book & register of members will be | to closed from (both dates inclusive) for the purpose of determining the entitlement |
| Registrar or Service Provider name, address, telephone no | SHAREWORKS SDN BHD No. 2-1, Jalan Sri Hartamas 8 Sri Hartamas 50480Kuala Lumpur Tel:03 6201 1120 Fax:03 6201 3121 |
| Payment date | |
| a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers | 05 Sep 2017 |
| b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit | |
| c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange. | |
| Number of new shares/securities issued (units) (If applicable) | |
| Entitlement indicator | Ratio |
| Ratio | 3 : 1 |
| Rights Issue/Offer Price | |
| Par Value (if applicable) | |
| Remarks : |
Arising from the no par value regime under the Companies Act 2016, par value is no longer relevant.
Pursuant to the Share Consolidation, the number and exercise price of outstanding Warrants C which are not exercised prior to the Books Closure Date will be adjusted in accordance with the provisions of the Deed Poll C.
The Warrants C will be consolidated on the basis of every 3 Warrants C held by the entitled holders of Warrants C of the Company (whose names appear in the Record of Depositors at 5.00 p.m. on the Books Closure Date) into 1 Warrant C ("Consolidated Warrants C").
Fractional entitlements arising from the Adjustments, if any, will be disregarded and/or shall be dealt with by the Board of Directors of the Company ("Board") in such manner as the Board in its absolute discretion deems fit and expedient or in the best interest of the Company. The actual number of Consolidated Warrants C to be issued and allotted would depend on the number of outstanding Warrants C which have yet to be exercised into new Shares as at the Books Closure Date.
Pursuant to the Adjustments, the existing exercise price of Warrants C of RM0.21 each will be revised to RM0.63 each.
The Consolidated Warrants C will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 6 September 2017, being the next market day following the Books Closure Date.
The notice of allotment for the Consolidated Warrants C will be despatched to the entitled holders not later than 4 market days after the date of listing and quotation of the Consolidated Warrants C on Bursa Securities. The notice to the holders of Warrants C (setting out the details of the Adjustments) will be despatched in due course.
This announcement is dated 18 August 2017. |
Announcement Info
| Company Name | SANICHI TECHNOLOGY BERHAD |
| Stock Name | SANICHI-WC |
| Date Announced | 18 Aug 2017 |
| Category | Entitlement(Notice of Book Closure) |
| Reference Number | ENT-17082017-00008 |